Guinness Asset Management LTD Sells 119 Shares of Ameriprise Financial, Inc. (NYSE:AMP)

Guinness Asset Management LTD decreased its stake in Ameriprise Financial, Inc. (NYSE:AMP) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,050 shares of the financial services provider’s stock after selling 119 shares during the period. Guinness Asset Management LTD’s holdings in Ameriprise Financial were worth $493,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in AMP. JPMorgan Chase & Co. raised its position in shares of Ameriprise Financial by 18.6% in the first quarter. JPMorgan Chase & Co. now owns 3,844,165 shares of the financial services provider’s stock valued at $1,685,436,000 after purchasing an additional 603,267 shares during the period. Swedbank AB bought a new stake in shares of Ameriprise Financial in the first quarter valued at approximately $108,938,000. Maj Invest Holding A S bought a new stake in shares of Ameriprise Financial in the third quarter valued at approximately $98,742,000. AGF Management Ltd. raised its position in shares of Ameriprise Financial by 35.4% in the second quarter. AGF Management Ltd. now owns 504,657 shares of the financial services provider’s stock valued at $215,584,000 after purchasing an additional 131,844 shares during the period. Finally, TD Asset Management Inc grew its stake in Ameriprise Financial by 18.8% during the first quarter. TD Asset Management Inc now owns 707,617 shares of the financial services provider’s stock valued at $310,248,000 after acquiring an additional 111,973 shares in the last quarter. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Trading Up 2.3 %

Shares of AMP traded up $11.13 during mid-day trading on Friday, reaching $502.50. The company’s stock had a trading volume of 369,636 shares, compared to its average volume of 473,380. The stock has a market cap of $49.34 billion, a PE ratio of 17.21, a P/E/G ratio of 0.81 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 52 week low of $306.63 and a 52 week high of $502.97. The company’s fifty day moving average price is $445.74 and its two-hundred day moving average price is $434.43.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business posted $7.44 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current fiscal year.

Ameriprise Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a yield of 1.18%. Ameriprise Financial’s dividend payout ratio is currently 20.28%.

Insider Activity at Ameriprise Financial

In related news, VP William Davies sold 8,700 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the sale, the vice president now directly owns 13,199 shares in the company, valued at $5,834,881.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on AMP shares. Royal Bank of Canada boosted their price objective on shares of Ameriprise Financial from $500.00 to $535.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group cut shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $485.00 to $476.00 in a research note on Thursday, September 26th. UBS Group boosted their price objective on shares of Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley reduced their price objective on shares of Ameriprise Financial from $444.00 to $440.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, Jefferies Financial Group boosted their price target on shares of Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $473.56.

About Ameriprise Financial

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.